89 N San Gorgonio Ave - Storefront FOR SALE


Banning, CA 92220- Downtown Banning
$769,000 USD
909-330-8123
89 N San Gorgonio Ave, Banning, CA for Sale
$769,000 USD
Storefront - FOR SALE
1/21
null | 4.76% Cap Rate

89 N San Gorgonio Ave
Banning, CA 92220
Downtown Banning


HIGHLIGHTS

  • 4-Retail/Office Units with 1-Residential Studio
  • In the heart of Downtown Banning
  • Corner Showcase Building

OVERVIEW

Downtown Banning Value-Add Investment Opportunity | 5-Unit Freestanding Commercial Building + Adjacent Excess Lot | Opportunity Zone. Strategically positioned in Banning's established Downtown Commercial District, 89 N. San Gorgonio Avenue presents a unique value-add investment opportunity consisting of a freestanding 3600sf commercial building configured into five individual units, together with an adjacent excess lot for a combined 6097sf/.14ac site. The property is currently occupied by a diverse mix of commercial and residential uses, including a street front candy shop, barber shop, engineering office, one vacant office/retail suite, and a 2nd floor studio apartment. All units are currently leased on a month-to-month basis, providing an investor or owner/user with flexibility to improve rents, reposition the property or stabilize occupancy. The adjacent parcel adds additional value and flexibility, featuring drought tolerant landscaping and a distinctive wall mural that contributes to the property's downtown character and street presence. A nicely updated property; surrounded by civic, retail, dining and service-oriented businesses. The City of Banning has recently adopted a Downtown Revitalization and Complete Streets Plan intended to enhance circulation, pedestrian connectivity, streetscape improvements and the public realm while establishing a framework to encourage new investment and redevelopment throughout the downtown area over the coming years. Buyer to verify own zoning/use with City of Banning. Please inquire with listing agent as to requests for showing and for financial information

FOR SALE DETAILS

PRICE

$769,000 USD

PRICE/SF

$214 USD /SF

CAP RATE

4.76%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront Retail/Office, Storefront Retail/Residential, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

DC

APN/PARCEL ID

540-168-003,540-168-010

ASK ABOUT THIS PROPERTY

Teri AlvarezKW Commercial RedlandsMore Info
909-330-8123

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Teri AlvarezKW Commercial RedlandsMore Info
909-330-8123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.